Republic of Croatia: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 159

Publication date: May 2008

ISBN: 9781451817478

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Public Finance , Health Policy , ISCR , CR , Croatia , GDP , spending , balance , debt , efficiency score , student-teacher ratio , system efficiency , education outcome , NICA balance , poverty rate , school enrollment , OECD country , Current account balance , Health care spending , Global , Europe

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Summary

The first analysis focuses on external stability, an important issue in view of Croatia’s external imbalances and the requirements of the IMF’s 2007 Decision on Bilateral Surveillance. The paper shows that the real exchange rate is broadly in line with economic fundamentals and that external debt dynamics are sustainable as long as macroeconomic policies remain strong. The second analysis finds significant inefficiencies in Croatia’s social spending. It also discusses several reform measures to reduce inefficiencies in public spending and generate budgetary savings to reduce the general government deficit.